v3.19.1
Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2019
Stockholders' Equity and Stock-based Compensation Disclosure [Abstract]  
Summary of Activity Related to Stock Option Plans
A summary of the activities related to the Company’s stock option plans is as follows:
 
 
 
Options Outstanding
 
 
 
 
 
Shares
Available
for Grant
 
Number of
Shares
 
Weighted-
Average
Exercise Price
(per share)
 
Weighted-Average Remaining
Contractual Term
(in years)
 
Aggregate
Intrinsic Value
(in thousands)
Balances as of December 31, 2018
8,699,941

 
20,479,278

 
$
89.61

 
 
 
 
Granted
(619,636
)
 
619,636

 
319.43

 
 
 
 
Exercised

 
(593,294
)
 
38.07

 
 
 
 
Expired

 
(21
)
 
4.27

 
 
 
 
Balances as of March 31, 2019
8,080,305

 
20,505,599

 
$
98.04

 
5.68
 
$
5,312,077

Vested and exercisable as of March 31, 2019
 
 
20,505,599

 
$
98.04

 
5.68
 
$
5,312,077

Summary of Amounts Related to Option Exercises
A summary of the amounts related to option exercises, is as follows:
 
Three Months Ended
 
March 31,
2019
 
March 31,
2018
 
(in thousands)
Total intrinsic value of options exercised
$
180,842

 
$
277,910

Cash received from options exercised
22,972

 
56,335

Summary of Assumptions Used to Value Stock Option Grants Using Lattice-Binomial Model
The following table summarizes the assumptions used to value option grants using the lattice-binomial model and the valuation data:
 
Three Months Ended
 
March 31,
2019
 
March 31,
2018
Dividend yield
%
 
%
Expected volatility
41
%
 
40
%
Risk-free interest rate
2.74
%
 
2.61
%
Suboptimal exercise factor
3.07

 
2.80

Weighted-average fair value (per share)
$
163

 
$
124

Total stock-based compensation expense (in thousands)
$
101,200

 
$
68,395

Total income tax impact on provision (in thousands)
$
21,628

 
$
14,691